Island Auto Group pays $32M for two car dealership locations in Westchester Square, Unionport

The car dealership Island Auto Group paid $32 million for two Bronx auto showrooms, one in Westchester Square and the other in Unionport, in two deals.

The sellers were entities affiliated Bronx Honda, led by Marcie Jacob and Ira Lang. The auto dealership was sold by Ira Lang to Island Auto Group principals, and is now styled as Honda of the Bronx. Marcie Jacob is the daughter of a now-deceased partner in the dealership, and she also worked at the dealership for several years. It’s unclear if the sale of the auto dealership was inclusive of the property sales or not.

In the first property sale, Island Auto Group through the entity 2541 E Tremont Ave Realty, LLC paid $16 million to the entity 2543 E. Tremont, LLC for the dealership (G8) at 2543 East Tremont Avenue in Westchester Square, Bronx. The expected use is owner-occupied.
The deal closed on July 29, 2025 and was recorded on August 14, 2025. The property has 10,706 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,494 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on June 1, 2009, for $1.3 million. The signatory for Marcie Jacob was Marcie Jacob. The signatory for Island Auto Group was Joshua Aaronson . The contract date was July 29, 2025.

In the second, Island Auto Group through the entity 1133 Zerega Ave Realty, LLC paid $16 million to Marcie Jacob through the entity 1133 Zerega Avenue, LLC for the industrial building (G1) at 1133 Zerega Avenue in Unionport, Bronx. The expected use is owner-occupied.
The deal closed on July 29, 2025 and was recorded on August 12, 2025. The property has 19,739 square feet of built space and 19,825 square feet of additional air rights for a total buildable of 39,650 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $810 and the price per buildable square foot is $403 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Marcie Jacob was Marcie Jacob. The signatory for Island Auto Group was Joshua Aaronson . The contract date was July 29, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Island Auto Group purchased two properties in two transactions for a total of $24.5 million and has no record it sold any properties over the past 24 months.
The seller Marcie Jacob had not purchased any other properties and sold one property in one transaction for a total of $16 million over the same time period.

The property

The industrial building in Westchester Square has 10,706 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 197 feet and is 217 feet deep with a total lot size of 36,734 square feet. The lot is irregular. The city-designated market value for the property in 2022 is $1.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Westchester Square, The bulk, or 30 percent of the 5.3 million square feet of commercial built space are walkup buildings, with office buildings next occupying 18 percent of the space. In sales, Westchester Square has had very little sales volume relative to other neighborhoods with $110.7 million in sales volume in the last two years. For development, Westchester Square has had very little major development activity relative to other neighborhoods.It had 259,698 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

There are no active new building construction projects on this tax block.

The majority, or 80 percent of the 13,402 square feet of built space are industrial buildings, with mixed-use buildings next occupying 20 percent of the space.

The buyer

The PincusCo database currently indicates that Island Auto Group owned at least one commercial property in New York City with 19,739 square feet and a city-determined market value of $1.1 million. (Market value is typically about 50% of actual value.) The portfolio has $9.1 million in debt, borrowed from Ally Bank. The portfolio consists of at least a single industrial property. It is located in Bronx.

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